RBI concluded that the charge of non-compliance with the instructions was substantiated and justified the imposition of a monetary penalty. The Reserve Bank of India (RBI) on Tuesday imposed a monetary sanction of Rs 2.50 million on Bajaj Finance for using coercive recovery methods from its borrowers and for violating …
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All lenders will credit the difference between compound interest and simple interest on loans to eligible borrowers for the period from March 1 to August 31. The Center has informed the Supreme Court that the difference in compound interest and simple interest charged during the six-month moratorium period on eight …
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MUMBAI : The Reserve Bank of India will not extend the moratorium on loan repayments after it ends on August 31, people familiar with the matter said. While an extension was actively being considered, the RBI chose not to do so because it was concerned about changes in credit behavior …
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[ad_1] Lenders say there aren’t many stakeholders even for the covid-19 lines of credit that the government wants banks to push aggressively, two bankers said on condition of anonymity. Any demand that exists comes primarily from small businesses that have difficulty paying staff salaries and covering fixed costs. “It is …
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